Crude for December delivery closed at $56.25 a barrel today, its lowest price in 17 months. Factor? A surprisingly mild fall, for one, which has given natural gas numbers a hit, taking oil with it. However, OPEC is cutting production by 1.1 million bbls, and with the holiday travel season upon us, we may not see gasoline prices dip much further before the end of the year. Then again, we're mere bloggers. It might be better to ask an economist.
Oil's benchmark contract tumbles to a 17-month low [MarketWatch]